Search results for: emerging markets

Authors: Nuray Okcum, Jenny Sharples

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While the scrutinization towards marginalized groups throughout the globe has been existent for decades, prejudice towards Muslims in Western countries has been increasing dramatically. The vicious attacks across the globe by perpetrators who identify with Islam as well as popular political discourse by politicians in Western countries claiming and portraying Muslims as being dangerous, oppressed, or lacking the ability to assimilate into the community, adds to the exclusion and lack of belonging Muslims living in Western countries experience. The early stages of adulthood which have recently been conceptualized as emerging adulthood is a critical and socially ambiguous transition. For a young Muslim emerging into adulthood in a Western country, a variety of different challenges and demands that can exceed their coping abilities can arise. While in search for their identity and in a bid to structure themselves with their past childhood experiences together with their newly forming values, the emerging adult may attempt to direct or change the way in which they are viewed by others. This can be done to gain approval from others and to feel a sense of belonging. A change in the emerging adult’s interpersonal interactions and relationships, the way in which they view themselves and others, their sense of belonging, and their identity, also occurs during this developmental stage. To explore the manner in which Muslims emerging into adulthood carve their identity, their experiences, and representation of their Muslim identity, social identification, and their sense of belonging in Australia, an interpretative phenomenological methodology was utilized. This allowed participants to offer their own subjective experiences. A total of eight emerging adults took part in the study whilst four adults who work with emerging adults took part. Adult participants who work with emerging adults took part in the study to bring forth their insight and experiences. Common experiences were organized into themes. Themes included identifying as a Muslim, social identification, and belonging. Identification included visual identification and name, discrimination and resilience. Findings clearly indicated that Muslims emerging into adulthood in Australia do face various hurdles while they try to retain and represent their religious identity. Despite the unique challenges that they face, they still feel a sense of belonging and identity as being Australian.

Keywords: Muslim, Islam, emerging adulthood, Australia

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Authors: Mario Pérez-Won, Vilbett Briones L., Guido Trautmann, María José Bugueño, Gipsy Tabilo-Munizaga, Luis Gonzalez-Cavieres

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The fishing industry generates a significant amount of shrimp byproducts, which often result in environmental contamination. Protein extraction from these by-products is a potential solution to minimize waste and revalue the by-products. To improve the extraction of proteins (by chemical method) from shrimp (Pleuroncodes monodon) by-products, the emerging technologies of ohmic heating (OH), microwaves (MW) and pulsed electric fields (PEF) were used. The results show that microwaves, electrical pulses, and ohmic heating improved performance by 28.19%, 19.25%, and 3.65%, respectively. Furthermore, conformational changes were studied by DSC and FTIR. Subsequently, the use of these proteins in electrospinning technology was evaluated. In conclusion, this study demonstrates that the application of emerging technologies, can significantly improve the extraction yield of proteins from shrimp by-products.

Keywords: electrospinning, emerging technologies, improving extraction, shrimp by-products

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Authors: Mohammed Yagoub

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The new orientation to the market economy sponsored by the Algeria government in the early Nineties of the last century, and its desire to develop investment mechanisms and the promotion of development recently, the access into a partnership with the European Union, and the forthcoming accession to the World Trade Organization, foreign direct investment makes one of the most important means of opening up to foreign markets and bring technology and interact with globalization, this article we will discuss the impact of FDI on economic growth in the Algerian.

Keywords: economic, development, markets, FDI, displacement, globalization

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Authors: Chester Joshua V. Saldana, Yolanda A. Ilagan

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This study determines the prevalence of Salmonella from retail dressed chickens using chicken wings as samples in five wet city markets of Cavite, Philippines, compares the prevalence among the markets' samples and determines the serotypes and antibiotic resistance pattern of Salmonella isolates. The overall prevalence of Salmonella in five wet markets in Cavite was 13.33 percent. Samples from Bacoor yielded the highest prevalence rate of 26.6 percent, followed by Imus (23.3%), Dasmarinas (11.6%), Trece Martires (3.3%) and Tagaytay (1.6%). Seven serotypes (serogroups B, C2, C3, D1 and E1) were isolated which include Salmonella weltevreden, S. derby, S. newport, S. albany, S. typhimurium, and S. enteritidis. Salmonella weltevreden was the predominant serotype while S. typhi and S. albany were the least common. Among the 15 antibiotics tested, resistance to ampicillin, tetracycline, and cephalexin was exhibited by all the isolates while 5 percent showed resistance to gentamicin, 2.5 percent to streptomycin and 12.5 percent to nitrofurantoin. One isolate was resistant to four antibiotics whereas most isolates of S. enteritidis were resistant to 2 to 5 antibiotics. Four resistance patterns were recorded. This study revealed the emergence of multidrug-resistant Salmonella serotypes from chicken meat in Cavite, Philippines.

Keywords: antibiotics, dressed chickens, resistance patterns, Salmonella serovars

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Authors: Tetsuji Tanaka, Jin Guo

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The extant literature has not succeeded in uncovering the common determinants of price volatility transmissions of agricultural commodities from international to local markets, and further, has rarely investigated the role of self-sufficiency measures in the context of national food security. We analyzed various factors to determine the degree of price volatility transmissions of wheat, rice, and maize between world and domestic markets using GARCH models with dynamic conditional correlation (DCC) specifications and panel-feasible generalized least square models. We found that the grain autarky system has the potential to diminish volatility pass-throughs for three grain commodities. Furthermore, it was discovered that the substitutive commodity consumption behavior between maize and wheat buffers the volatility transmissions of both, but rice does not function as a transmission-relieving element, either for the volatilities of wheat or maize. The effectiveness of grain consumption substitution to insulate the pass-throughs from global markets is greater than that of cereal self-sufficiency. These implications are extremely beneficial for developing governments to protect their domestic food markets from uncertainty in foreign countries and as such, improves food security.

Keywords: food security, GARCH, grain self-sufficiency, volatility transmission

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Authors: Syed Jawad Hussain Shahzad, Muhammad Zakaria, Mobeen Ur Rehman, Saniya Khaild

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This study examines the co-movement between the Pakistan, Indian, S&P 500 and Nikkei 225 stock markets using weekly data from 1998 to 2013. The time-frequency relationship between the selected stock markets is conducted by using measures of continuous wavelet power spectrum, cross-wavelet transform and cross (squared) wavelet coherency. The empirical evidence suggests strong dependence between Pakistan and Indian stock markets. The co-movement of Pakistani index with U.S and Japanese, the developed markets, varies over time and frequency where the long-run relationship is dominant. The results of cross wavelet and wavelet coherence analysis indicate moderate covariance and correlation between stock indexes and the markets are in phase (i.e. cyclical in nature) over varying durations. Pakistan stock market was lagging during the entire period in relation to Indian stock market, corresponding to the 8~32 and then 64~256 weeks scale. Similar findings are evident for S&P 500 and Nikkei 225 indexes, however, the relationship occurs during the later period of study. All three wavelet indicators suggest strong evidence of higher co-movement during 2008-09 global financial crises. The empirical analysis reveals a strong evidence that the portfolio diversification benefits vary across frequencies and time. This analysis is unique and have several practical implications for regional and international investors while assigning the optimal weightage of different assets in portfolio formulation.

Keywords: co-movement, Pakistan stock exchange, S&P 500, Nikkei 225, wavelet analysis

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Authors: Amneh Alkurdi, Yasean Tahat, Hamzeh Almuali

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Purpose: The primary objective of the present paper is to examine the impact of CG attributes, including the board size, independency, separation and managerial ownership) on firm dividend payouts policy; using a sample of 72 Jordanian listed companies for the period of 2007-2013. Methodology: The study does manually review the sample firm’s annual reports for data collection and use OLS regression to carry out this investigation. Findings: The findings indicate that CG attributes have a strong impact on dividend payouts policy. In particular, board size, independency and separation have had significant associations with dividends payouts indicating that such variables matter when determining on dividends which may mitigate the conflicts between stakeholders’ and managers’ interests. The results also indicate that managerial ownership has had no significant impact on the dividends policy suggesting that managers do not use the strength of their position to influence the dividends policy. Finally, the results show that firm size and profitability have had statistically positive associations with dividend payouts, while this was not the case for firm leverage and growth where significant and positive relationships were documented. Originality/implication: The current paper extends the extant literature in this field by investigating the impact of the board composition on dividends and provides some insights for policy makers in emerging markets.

Keywords: corporate governance, dividends payouts policy, jordan, accounting

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Authors: Yih-Wenn Laih

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In recent times, the dependence and co-movement among international financial markets have become stronger than in the past, as evidenced by commentaries in the news media and the financial sections of newspapers. Studying the co-movement between returns in financial markets is an important issue for portfolio management and risk management. The realization of co-movement helps investors to identify the opportunities for international portfolio management in terms of asset allocation and pricing. Since the election of the new Prime Minister, Shinzo Abe, in November 2012, the yen has weakened against the US dollar from the 80 to the 120 level. The policies, known as “Abenomics,” are to encourage private investment through a more aggressive mix of monetary and fiscal policy. Given the close economic relations and competitions among Asia markets, it is interesting to discover the co-movement relations, affected by the depreciation of yen, between stock market of Japan and 5 major Asia stock markets, including China, Hong Kong, Korea, Singapore, and Taiwan. Specifically, we devote ourselves to measure the co-movement of stock markets between Japan and each one of the 5 Asia stock markets in terms of rank correlation coefficients. To compute the coefficients, return series of each stock market is first fitted by a skewed-t GARCH (generalized autoregressive conditional heteroscedasticity) model. Secondly, to measure the dependence structure between matched stock markets, we employ the symmetrized Joe-Clayton (SJC) copula to calculate the probability density function of paired skewed-t distributions. The joint probability density function is then utilized as the scoring scheme to optimize the sequence alignment by dynamic programming method. Finally, we compute the rank correlation coefficients (Kendall's  and Spearman's ) between matched stock markets based on their aligned sequences. We collect empirical data of 6 stock indexes from Taiwan Economic Journal. The data is sampled at a daily frequency covering the period from January 1, 2013 to July 31, 2015. The empirical distributions of returns indicate fatter tails than the normal distribution. Therefore, the skewed-t distribution and SJC copula are appropriate for characterizing the data. According to the computed Kendall’s τ, Korea has the strongest co-movement relation with Japan, followed by Taiwan, China, and Singapore; the weakest is Hong Kong. On the other hand, the Spearman’s ρ reveals that the strength of co-movement between markets with Japan in decreasing order are Korea, China, Taiwan, Singapore, and Hong Kong. We explore the effects of “Abenomics” on Asia stock markets by measuring the co-movement relation between Japan and five major Asia stock markets in terms of rank correlation coefficients. The matched markets are aligned by a hybrid method consisting of GARCH, copula and sequence alignment. Empirical experiments indicate that Korea has the strongest co-movement relation with Japan. The strength of China and Taiwan are better than Singapore. The Hong Kong market has the weakest co-movement relation with Japan.

Keywords: co-movement, depreciation of Yen, rank correlation, stock market

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Authors: Ebru Ergi̇n, Funda Kutlu

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Emerging adulthood is a developmental period and the formation of identity is crucial task of emerging adults in this period. In this frame, the main aim of the study was to compare college students and full-time workers on emerging adulthood dimensions and identity statuses in relation to some demographic variables in Turkey. The participants of the study were university students studying in Ankara and the employees working full-time in Ankara and Bursa. The mean age of the sample was 20.84 (sd=1.84), ranging from 18 to 25. The measurement instruments of the study were Inventory of Dimensions of Emerging Adulthood and Extended Objective Measure of Ego Identity Status (EOMEIS-II). The participants’ data (N=313) were analyzed to test the research questions and hypotheses of the study. A series of MANOVA were performed to test the group differences for some demographic characteristics (such as: employee/student, male/female, living with family/living apart from family) on scores of emerging adulthood dimensions and identity status. The results of the MANOVAs indicated that students, females and participants who live apart from their families had higher scores on emerging adulthood dimensions. The results of the identity status scores differences depending on the demographic characteristic pointed out that there were a significant group differences for identity foreclosure identity scores between employees and students. Employees’ foreclosure identity scores were higher than students. Furthermore, the identity scores were differed significantly according to gender of the participants. Male participants had higher scores in moratorium and foreclosure identity and female participants have higher achievement identity scores than males. Also, the participants who live with their family scored higher in foreclosure identity and the participants who live apart from their family scored higher in identity achievement status.

Keywords: college students, emerging adulthood, full-time employees, identity statuses

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Authors: Carlo Gozzelino

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Since the early 2000s, the phenomenon of the two-sided markets has been of growing interest in academic literature as such kind of markets differs by having cross-side network effects and same-side network effects characterizing the transactions, which make the analysis different when compared to traditional seller-buyer concept. Due to such externalities, pricing strategies can be based on subsidizing the participation of one side (i.e. considered key for the platform to attract the other side) while recovering the loss on the other side. In recent years, several players of the Italian financial intermediation industry moved from an integrated landscape (i.e. selling their own products) to an open one (i.e. intermediating third party products). According to academic literature such behavior can be interpreted as a merchant move towards a platform, operating in a two-sided market environment. While several application of two-sided market framework are available in academic literature, purpose of this paper is to use a two-sided market concept to suggest a new framework applied to financial intermediation. To this extent, a model is developed to show how competitors behave when vertically integrated and how the peculiarities of a two-sided market act as an incentive to disintegrate. Additionally, we show that when all players act as a platform, the dynamics of a two-sided markets can allow at least a Nash equilibrium to exist, in which platform of different sizes enjoy positive profit. Finally, empirical evidences from Italian market are given to sustain – and to challenge – this interpretation.

Keywords: financial intermediation, network externalities, two-sided markets, vertical differentiation

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Authors: Bita Mashayekhi, Hamid Kalhornia

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One of the most important roles of financial reporting is improving the firms’ investment decisions; however, there is not much supporting evidence for this claim in emerging markets like Iran. In this study, the effect of financial reporting transparency in investment efficiency of Iranian firms has been investigated. In order to do this, 336 listed companies on Tehran Stock Exchange (TSE) has been selected for time period 2012 to 2015 as research sample. For testing our main hypothesis, we classified sample firms into two groups based on their deviation from expected investment: under-investment and over-investment cases. The results indicate that there is positive significant relationship between financial transparency and investment efficiency. In the other words, transparency can mitigate both underinvestment and overinvestment situations.

Keywords: corporate governance, disclosure, investment decisions, investment efficiency, transparency

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Authors: Begzod Nishanov, Farhod Karimov

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Globalization and the internet have completely changed the way in which businesses operate as well as has equipped customers with endless potential. Today, consumers’ product choice is not only affected by branding, price and quality of the product, but also by the country-of-origin information. Precisely, ‘Made In’ label is considered as one of the driving factors which directly impact on consumers’ preferences. Generally, it is obvious that products manufactured in less developed countries are considered to be of lower quality and riskier compared to the products made in developed countries. In this regard, it is worth to note that this phenomenon is mainly applicable to western developed countries. However, there is a lack of empirical research on underlying the influence of country-of-origin phenomenon in emerging economies such as Uzbekistan. Today, Uzbek market is being dominated by growing number of foreign made products. Uzbek manufacturers are facing intense competition not only from local producers but also from the availability of foreign goods suppliers. Consequently, consumers are given wider choice of products than ever before. In this regard, it is important to define the importance of country-of-origin information in order to understand Uzbek consumers’ preference. The methodology of the research is formulated based on the methodology of previous papers. A total 527 online questionnaires were completed. Data analysis was conducted using factor analysis and analysis of variance test (ANOVA). Findings of the research support the view that Uzbek consumers attach great importance to the country-of-origin information of products. Precisely, it can be stated that Uzbek people perceive product quality by its ‘Made in...’ label, especially when buying high involvement goods such as car or refrigerator. Another findings of the paper show that products manufactured in developed countries including Germany, Japan and USA are found to be of high quality, while products manufactured in less developed countries are considered to be of lower quality. Marketers can use this information for segmentation purposes. For example, products manufactured in less developed countries can be targeted for low-to-middle income families while goods manufactured in developed countries can be targeted for higher income families. In conclusion, it can be stated that perceived product quality of products that are made in Uzbekistan has slightly increased since 18 years. It implies that nowadays products under ‘Made in Uzbekistan’ label is continually becoming available to many consumers in foreign markets, especially among Commonwealth of Independent States (CIS) countries. Therefore, conducting further research to explore the phenomenon of country-of-origin information and perceived product quality in emerging markets is of paramount importance.

Keywords: country-of-origin, consumer behavior, product evaluation, perceived quality

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Authors: Evelyn Fabian

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The focus of this discussion centres on the emerging issues in Early Childhood Care and development in Nigeria. Early childhood care is the bedrock of Nigeria’s educational system. However, there are critical issues that had not been addressed and it is frustrating the entire educational process. Thus, this paper will show the inter-connectedness between these issues such as poor funding, trained skillful teachers that would supervise the learning process of the kids, unconducive learning environment and lack of relevant facilities. For a clear grasp of these issues, the researcher visited 36 early childhood centres distributed across the 36 spates of Nigeria. The findings which were expressed in simple percentages revealed a near total absence or government neglect of these critical areas. The findings equally showed a misplaced priority in the government allocation of funds to early child care education and development. The study concludes that this mismatch in the training of these categories of pupils, government should expedite action in addressing these emerging issues in early childhood care and development in Nigeria.

Keywords: early childhood, ECCE, education, emerging issues

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Authors: Yosra Mefteh Rekik

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A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

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Authors: Farid Habibi Tanha, Mojtaba Jahanbazi, Morteza Foroutan, Rasidah Mohd Rashid

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This paper depicts the effects of asymmetric information in determining capital inflows to be captured through stock market microstructure. The model can explain several stylized facts regarding the capital immobility. The first phase of the research involves in collecting and refining 150,000,000 daily data of 11 stock markets over a period of one decade in an effort to minimize the impact of survivorship bias. Three micro techniques were used to measure information asymmetries. The final phase analyzes the model through panel data approach. As a unique contribution, this research will provide valuable information regarding negative effects of information asymmetries in stock markets on attracting foreign investments. The results of this study can be directly considered by policy makers to monitor and control changes of capital flow in order to keep market conditions in a healthy manner, by preventing and managing possible shocks to avoid sudden reversals and market failures.

Keywords: asymmetric information, capital inflow, market microstructure, investment

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Authors: Susmita Ghosh, Bhaskar Bhowmick

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Market is an important factor for start-ups to look into during decision-making in product development and related areas. Emerging country markets are more uncertain in terms of information availability and institutional supports. The literature review of market uncertainty reveals the need for identifying factors representing the market uncertainty. This paper identifies factors for market uncertainty using Exploratory Factor Analysis (EFA) and confirms the number of factor retention using an alternative factor retention criterion, ‘Parallel Analysis’. 500 entrepreneurs, engaged in start-ups from all over India participated in the study. This paper concludes with the factor structure of ‘market uncertainty’ having dimensions of uncertainty in industry orientation, uncertainty in customer orientation and uncertainty in marketing orientation.

Keywords: uncertainty, market, orientation, competitor, demand

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Authors: Agarana Michael C., Akinlabi Esther T., Pule Kholopane

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Innovation in manufacturing process technologies and associated product design affects the prospects for manufacturing today and in near future. In this study some theoretical methods, useful as tools in advanced manufacturing, are considered. In particular, some basic Mathematical, Operational Research, Heuristic, and Statistical techniques are discussed. These techniques/methods are very handy in many areas of advanced manufacturing processes, including process planning optimization, modelling and analysis. Generally the production rate requires the application of Mathematical methods. The Emerging Trends Processes in Advanced Manufacturing can be enhanced by using Mathematical Modelling and Optimization techniques.

Keywords: mathematical modelling, optimization, emerging trends, advanced manufacturing

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Authors: Atef Aladwan

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This research will focus on stimulating greater freedom and facilitating small and medium-sized enterprises (SMEs) in Jordan to create jobs, as it is emerging as a key development issue. It will highlight the importance of integrating SMEs into development strategies. Jordan has potentially a large market for its products as a result of proximity to developed country markets, signing of various free trades agreements with European countries, cheap energy sources and vast sovereign funds willing to invest in the development of local enterprises. It is beginning to be accepted by governments that SMEs rather than government need to be the main player in domestic economic activity, especially as providers of employment opportunities, and hence generators of sources of income for many households. To foster SME development, it is generally recognised that reforms are needed in Jordan in order to bring about a more globally competitive and business-friendly environment.

Keywords: SMEs, competitiveness, entrepreneurship, jordan, development

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Authors: Philippe Gugler

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The aim of this study is to investigate how home country patterns may influence the competitiveness of EMNEs in international markets and more specifically their ability to invest abroad. The study examines the dynamic relationship between home country specific advantage and firms’ competitiveness. Are EMNEs still driven by strong country specific advantages or are EMNEs increasingly relying on their own firm specific competitiveness? EMNEs are not commonly recognized as a ‘homogeneous group’. Therefore, the approaches to these questions need to be specific while still attempting to extract some common evidence. The aim of the study is to elaborate a framework to investigate this issue in a dynamic context of international business’s strategies. The study focuses on two major research questions. The first one relates to the role of the home-base context in the internationalization process of EMNEs and more specifically the home-base assets’ influence on EMNEs competitiveness. Another question is to investigate the interactions among home-base context, recipient country context and EMNEs competitiveness. The evolution of EMNEs’ competitiveness is shaped by the evolution of the home country’s business environment. The nature of the home-based components in EMNEs’ specific advantages has changed over time due to the increased integration of emerging countries in the world market and the inherent changes related to their institutional, structural and regulatory patterns. The home country offers not only inherited assets but also a productive business environment, allowing firms to innovate, be more productive, create unique value for customers and finally, to face international competition successfully. The more sophisticated the home business environment is, the more opportunities there are for firms to developed exclusive and unique competitive assets. The international expansion of EMNEs is a fascinating but challenging issue. Among the numerous questions raised by the involvement of EMNEs in international competition is the evolving role of the home market. The purpose of this study is to examine some of the theoretical ideas and empirical evidence to allow us to deepen our understanding of the role of emerging home countries in the internationalization process of their domestic firms and more specifically in their ability to compete successfully abroad. How much do home specific assets still influence EMNEs’ foreign investment? Which home country assets provide the main competitive drivers to invest and compete abroad? How do EMNEs combine home country assets and host country assets to strengthen their competitive advantages? These questions as well as various others deserve further examination by the scientific community.

Keywords: competitiveness, emerging countries' multinational enterprises, foreign direct investments, international business

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Authors: N. Moradi, C. M. Lopez-Vazquez, H. Garcia Hernandez, F. Rubio Rincon, D. Brdanovic, Mark van Loosdrecht

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Advanced oxidation processes have been widely used for disinfection, removal of residual organic material, and for the removal of emerging contaminants from drinking water and wastewater. Yet, the application of these technologies to sludge treatment processes has not gained enough attention, mostly, considering the complexity of the sludge matrix. In this research, ozone and UV/H₂O₂ treatment were applied for the removal of emerging contaminants from a digestate supernatant. The removal of the following compounds was assessed:(i) salicylic acid (SA) (a surrogate of non-stradiol anti-inflammatory drugs (NSAIDs)), and (ii) sulfamethoxazole (SMX), sulfamethazine (SMN), and tetracycline (TCN) (the most frequent human and animal antibiotics). The ozone treatment was carried out in a plexiglass bubble column reactor with a capacity of 2.7 L; the system was equipped with a stirrer and a gas diffuser. The UV and UV/H₂O₂ treatments were done using a LED set-up (PearlLab beam device) dosing H₂O₂. In the ozone treatment evaluations, 95 % of the three antibiotics were removed during the first 20 min of exposure time, while an SA removal of 91 % occurred after 8 hours of exposure time. In the UV treatment evaluations, when adding the optimum dose of hydrogen peroxide (H₂O₂:COD molar ratio of 0.634), 36% of SA, 82% of TCN, and more than 90 % of both SMX and SMN were removed after 8 hours of exposure time. This study concluded that O₃ was more effective than UV/H₂O₂ in removing emerging contaminants from the digestate supernatant.

Keywords: digestate sludge, emerging contaminants, ozone, UV-AOP

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Authors: L. E. Mphahama, A. Mushunje, A. Taruvinga

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Although broiler production does not generate any large incomes among the smallholder community, it represents the main source of livelihood and part of nutritional requirement. As a result, market for broiler meat is growing faster than that of any other meat products and is projected to continue growing in the coming decades. However, the implication is that a multitude of factors manipulates transformation of smallholder broiler farmers participating in the mainstream markets. From 217 smallholder broiler farmers, socio-economic and institutional factors in broiler farming were incorporated into Binary model to estimate the probability of broiler farmers’ participation in the mainstream markets within the Maseru district in Lesotho. Of the thirteen (13) predictor variables fitted into the model, six (6) variables (household size, number of years in broiler business, stock size, access to transport, access to extension services and access to market information) had significant coefficients while seven (7) variables (level of education, marital status, price of broilers, poultry association, access to contract, access to credit and access to storage) did not have a significant impact. It is recommended that smallholder broiler farmers organize themselves into cooperatives which will act as a vehicle through which they can access contracts and formal markets. These cooperatives will also enable easy training and workshops for broiler rearing and marketing/markets through extension visits.

Keywords: broiler chicken, mainstream market, Maseru district, participation, smallholder farmers

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Authors: Ayanda P. Deliwe, Storm B. Watson

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The COVID-19 pandemic has disrupted the established practices of higher education institutions (HEIs). Most higher education institutions worldwide had to shift from traditional face-to-face to online learning. The online environment and new online tools are disrupting the way in which higher education is presented. Furthermore, the structures of higher education institutions have been impacted by rapid advancements in information and communication technologies. Emerging technologies should not be viewed in a negative light because, as opposed to the traditional curriculum that worked to create productive and efficient researchers, emerging technologies encourage creativity and innovation. Therefore, using technology together with traditional means will enhance teaching and learning. Emerging technologies in higher education not only change the experience of students, lecturers, and the content, but it is also influencing the attraction and retention of students. Higher education institutions are under immense pressure because not only are they competing locally and nationally, but emerging technologies also expand the competition internationally. Emerging technologies have eliminated border barriers, allowing students to study in the country of their choice regardless of where they are in the world. Higher education institutions are becoming indifferent as technology is finding its way into the lecture room day by day. Academics need to utilise technology at their disposal if they want to get through to their students. Academics are now competing for students' attention with social media platforms such as WhatsApp, Snapchat, Instagram, Facebook, TikTok, and others. This is posing a significant challenge to higher education institutions. It is, therefore, critical to pay attention to emerging technologies in order to see how they can be incorporated into the classroom in order to improve educational quality while remaining relevant in the work industry. This study aims to understand how emerging technologies have been utilised at Nelson Mandela University in presenting teaching and learning activities since April 2020. The primary objective of this study is to analyse how academics are incorporating emerging technologies in their teaching and learning activities. This primary objective was achieved by conducting a literature review on clarifying and conceptualising the emerging technologies being utilised by higher education institutions, reviewing and analysing the use of emerging technologies, and will further be investigated through an empirical analysis of the use of emerging technologies at Nelson Mandela University. Findings from the literature review revealed that emerging technology is impacting several key areas in higher education institutions, such as the attraction and retention of students, enhancement of teaching and learning, increase in global competition, elimination of border barriers, and highlighting the digital divide. The literature review further identified that learning management systems, open educational resources, learning analytics, and artificial intelligence are the most prevalent emerging technologies being used in higher education institutions. The identified emerging technologies will be further analysed through an empirical analysis to identify how they are being utilised at Nelson Mandela University.

Keywords: artificial intelligence, emerging technologies, learning analytics, learner management systems, open educational resources

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Authors: Abdullahi Mohammed

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The microbial quality of beef and mutton sold in four major markets of Bauchi metropolis was assessed in order to assist in ascertaining safety. Shops were selected from 'Muda Lawal', 'Yelwa', 'Wunti', and 'Gwallameji' markets. The total bacterial count was used as index of quality. A total of thirty two (32) samples were collected in two successive visits. The samples were packed and labelled in a sterile polythene bags for transportation to the laboratory. Microbial analysis was carried out immediately upon arrival under a septic condition, where aerobic plate was used in determining the microbial load. Result showed that beef and mutton from Gwallameji had the highest bacterial count of 9.065 X 105 cfu/ml and 8.325 X 105 cfu/ml for beef and mutton respectively followed by Wunti market (6.95 X 105 beef and 4.838 X 105 motton) and Muda Lawal (4.86 X 105 cfu/ml beef and 5.998 X 105 cfu/ml mutton). Yelwa had 5.175 X 105 and 5.30 X 105 for beef and mutton respectively. Bacterial species isolated from the samples were Escherichia coli, Salmonella spp, Streptococcus species and Staphylococcus species. However, results obtained from all markets showed that there was no significant differences between beef and mutton in terms of microbial quality.

Keywords: beef, mutton, salmonella, sterile

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Authors: Dimpy Shah

Abstract:

The global economy has substantially changed in last three decades. Now almost all markets are transparent and visible for global customers. The corporates are now no more reliant on local markets for trade. The information technology revolution has changed business dynamics and marketing practices of corporate. The markets are divided into two different formats: traditional and virtual. In very short span of time, many e-commerce portals have captured global market. This strategy is well supported by global delivery system of multinational logistic companies. Now the markets are dealing with global supply chain networks, which are more demand driven and customer oriented. The corporate have realized importance of supply chain integration and marketing in this competitive environment. The Indian markets are also significantly affected with all these changes. In terms of population, India is in second place after China. In terms of demography, almost half of the population is of youth. It has been observed that the Indian youth are more inclined towards e-commerce and prefer to buy goods from web portal. Initially, this trend was observed in Indian service sector, textile and electronic goods and now further extended in other product categories. The FMCG companies have also recognized this change and started integration of their supply chain with e-commerce platform. This paper attempts to understand contemporary marketing practices of corporate in e-commerce business in Indian food and beverages segment and also tries to identify innovative marketing practices for proper execution of their strategies. The findings are mainly focused on supply chain re-integration and brand building strategies with proper utilization of social media.

Keywords: FMCG (Fast Moving Consumer Goods), ISCM (Integrated supply chain management), RFID (Radio Frequency Identification), traditional and virtual formats

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Authors: O. A. Adeyemi, M. O. Idris, W. A. Oke, O. T. Olorode, S. O. Alayande, A. E. Adeoye

Abstract:

The purpose of this paper is to investigate the process of capability building at subsidiary level and the challenges to such process. The relevance of external factors for capability development, have not been explicitly addressed in empirical studies. Though, internal factors, acting as enablers, have been more extensively studied. With reference to external factors, subsidiaries are actively influenced by specific characteristics of the host country, implying a need to become fully immersed in local culture and practices. Specifically, in MNCs, there has been a widespread trend in management practice to increase subsidiary autonomy,  with subsidiary managers being encouraged to act entrepreneurially, and to take advantage of host country specificity. As such, it could be proposed that: P1: The degree at which subsidiary management is connected to the host country, will positively influence the capability development process. Dynamic capabilities reside to a large measure with the subsidiary management team, but are impacted by the organizational processes, systems and structures that the MNC headquarter has designed to manage its business. At the subsidiary level, the weight of the subsidiary in the network, its initiative-taking and its profile building increase the supportive attention of the HQs and are relevant to the success of the process of capability building. Therefore, our second proposition is that: P2: Subsidiary role and HQ support are relevant elements in capability development at the subsidiary level. Design/Methodology/Approach: This present study will adopt the multiple case studies approach. That is because a case study research is relevant when addressing issues without known empirical evidences or with little developed prior theory. The key definitions and literature sources directly connected with operations of western subsidiaries in emerging markets, such as China, are well established. A qualitative approach, i.e., case studies of three western subsidiaries, will be adopted. The companies have similar products, they have operations in China, and both of them are mature in their internationalization process. Interviews with key informants, annual reports, press releases, media materials, presentation material to customers and stakeholders, and other company documents will be used as data sources. Findings: Western Subsidiaries in Emerging Market operate in a way substantially different from those in the West. What are the conditions initiating the outsourcing of operations? The paper will discuss and present two relevant propositions guiding that process. Practical Implications: MNCs headquarter should be aware of the potential for capability development at the subsidiary level. This increased awareness could induce consideration in headquarter about the possible ways of encouraging such known capability development and how to leverage these capabilities for better MNC headquarter and/or subsidiary performance. Originality/Value: The paper is expected to contribute on the theme: drivers of subsidiary performance with focus on emerging market. In particular, it will show how some external conditions could promote a capability-building process within subsidiaries.

Keywords: case studies, dynamic capability, emerging market, subsidiary

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Authors: J. Berčík, A. Mravcová, A. Rusková, P. Jurčišin, R. Virágh

Abstract:

The online world is changing every day. With this comes the emergence and development of new business models. One of them is the sale of several types of products in one place. This type of sales in the form of online marketplaces has undergone a positive development in recent years and represents a kind of alternative to brick-and-mortar shopping centres. The main philosophy is to buy several products under one roof. Examples of popular e-commerce marketplaces are Amazon, eBay, and Allegro. Their share of total e-commerce turnover is expected to even double in the coming years. The paper highlights possibilities for testing web applications and online marketplace using emerging methods like stationary eye cameras (eye tracking) and facial analysis (FaceReading).

Keywords: emerging methods, consumer neuroscience, e-commerce, marketplace, user experience, user interface

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Authors: Rishabh Garg

Abstract:

Traditionally, business parties build trust with a centralized operating mechanism, such as payment by letter of credit. However, the increase in cyber-attacks and malicious hacking has jeopardized business operations and finance practices. Emerging markets, owing to their higher banking risks and bigger presence of digital financing, are looking forward to technology-driven solutions, financial inclusion and innovative working paradigms. Blockchain has the potential to enhance transaction transparency and supply chain traceability. It has captured a vast landscape with 200 million crypto users worldwide. Fintech and blockchain products are popping up across brokerage, digital wallets, exchanges, post-trade clearance, settlement, middleware, infrastructure, and base protocols.

Keywords: blockchain, distributed ledger technology, decentralized applications, ethereum, smart contracts, trade finance

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Authors: Yi Anson Lam, Siu Ming Yiu, Kam Pui Chow

Abstract:

Digital evidence has been tendering to courts at an exponential rate in recent years. As an industrial practice, most digital evidence is extracted and preserved using specialized and well-accepted forensics tools. On the other hand, the advancement in technologies enables the creation of quite a few emerging platforms such as Telegram, Signal etc. Existing (well-accepted) forensics tools were not designed to extract evidence from these emerging platforms. While new forensics tools require a significant amount of time and effort to be developed and verified, this paper tries to address how to fill this gap using quick-fix alternative methods for digital evidence collection (e.g., based on APIs provided by Apps) and discuss issues related to the admissibility of this evidence to courts with support from international courts’ stance and the circumstances of accepting digital evidence using these proposed alternatives.

Keywords: extraction, digital evidence, laws, investigation

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Authors: Erfan Memarian, Seyyed Fazayel Alizadeh

Abstract:

This study aims to evaluate the impacts of the oil and financial markets of the United States on Iran stock exchange and to develop an ARDL model to predict the short and long-term relationship between these markets. In this regard, all 713 weekly data between 28 July 1999 and 20 March 2013 were analyzed by using Microfit4.0 and Eviews7 econometric softwares. The independent variable of the study is the “Price and Yield Index (TEDPIX)” of Tehran Stock Exchange and the independent variables include S & P 500 Index, the US three-month treasury bill rate and West Texas Intermediate oil spot price index. The results show that the West Texas Intermediate oil spot price and the S&P 500 indices have significant positive relationships with Iran's TEDPIX. Also, there exists a significant negative relationship between Iran's TEDPIX and the US three-month Treasury bill rate.

Keywords: TEDPIX; Tehran Stock Exchange; S&P 500 index; USA three-month Treasury bill rate; West Texas Intermediate oil

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Authors: Abhinav Kumar Rajverma, Arun Kumar Misra, Abhijeet Chandra

Abstract:

Family involvement in business is universal across countries, with varying characteristics. Firms of developed economies have diffused ownership structure; however, that of emerging markets have concentrated ownership structure, having resemblance with that of family firms. Optimization of dividend payout and leverage are very crucial for firm’s valuation. This paper studies dividend paying behavior of National Stock Exchange listed Indian firms from financial year 2007 to 2016. The final sample consists of 422 firms and of these more than 49% (207) are family firms. Results reveal that family firms pay lower dividend and are more leveraged compared to non-family firms. This unique data set helps to understand dividend behavior and capital structure of sample firms over a long-time period and across varying family ownership concentration. Using panel regression models, this paper examines factors affecting dividend payout and capital structure and establishes a link between the two using Two-stage Least Squares regression model. Profitability shows a positive impact on dividend and negative impact on leverage, confirming signaling and pecking order theory. Further, findings support bankruptcy theory as firm size has a positive relation with dividend and leverage and volatility shows a negative relation with both dividend and leverage. Findings are also consistent with agency theory, family ownership concentration has negative relation with both dividend payments and leverage. Further, the impact of family ownership control confirms the similar finding. The study further reveals that firms with high family ownership concentration (family control) do have an impact on determining the level of private benefits. Institutional ownership is not significant for dividend payments. However, it shows significant negative relation with leverage for both family and non-family firms. Dividend payout and leverage show mixed association with each other. This paper provides evidence of how varying level of family ownership concentration and ownership control influences the dividend policy and capital structure of firms in an emerging market like India and it can have significant contribution towards understanding and formulating corporate dividend policy decisions and capital structure for emerging economies, where majority of firms exhibit behavior of family firm.

Keywords: dividend, family firms, leverage, ownership structure

Procedia PDF Downloads 246